It is very lame. I take it as a sign that the people behind it would likely have mis-managed things. The failure to keep an eye on things, or find that last push that was needed, is a red flag.
The people behind it were pushing for investments at the last minute. Timing was bad -- there are tons of messages from people after the fact who said, "Sorry, if I'd only known in time!" -- and they did make up an $800 short-fall in the last seconds before it ended.
It's pretty harsh to judge a team you've never met by one external symptom that actually has nothing to do with their ability to create the product.
